LD 1699
PUBLIC Law, Chapter 487

on - Session - 127th Maine Legislature
Bill Tracking, Additional Documents Chamber Status

An Act To Provide Relief for Significant Reductions in Municipal Property Fiscal Capacity

Be it enacted by the People of the State of Maine as follows:

Sec. 1. Property fiscal capacity determination for fiscal year 2016-17 for municipality with decline in valuation. Notwithstanding the Maine Revised Statutes, Title 20-A, section 15672, subsection 23, paragraph C, for fiscal year 2016-17, if a municipality's 2016 certified state valuation declines in an amount that is greater than 4.5% from the next most recently certified state valuation and that decline is due to the loss in value attributable to a single taxpayer, the State Tax Assessor shall certify to the Commissioner of Education that the municipality's property fiscal capacity is the average of the 2016 certified state valuation for that municipality and the property fiscal capacity under Title 20-A, section 15672, subsection 23, paragraph C.

Sec. 2. Maintenance of mill rate for fiscal year 2016-17. The Commissioner of Education shall identify savings resulting from unused debt service in order to maintain the mill rate expectation of 8.30 for fiscal year 2016-17 as established in Public Law 2015, chapter 389, Part C, section 11, pursuant to the Maine Revised Statutes, Title 20-A, section 15671-A.

Effective 90 days following adjournment of the 127th Legislature, Second Regular Session, unless otherwise indicated.

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